On 11 July 2017, Italy published the Ministerial Decree of 26 May 2017 in the Official Gazette. The Decree increases the taxable percentage for capital gains (and losses) realized by non-residents on the transfer of qualifying shares in Italian companies from 49.72% to 58.14%. In general, where a non-resident transfers shares in a resident company and the participation exceeds 20% of the voting rights or 25% of the stated capital (2% or 5% for listed shares) in the previous 12 months, the st…